The Facebook-COR Action begins with a bang

Facebook The action began about 13% above its IPO price on the Nasdaq Friday, completing one of the largest IPOs in the history of the United States.

The transaction enabled the world's first social network to raise $ 16 billion (12.6 billion euros).

Banks consulting group had set Thursday at $ 38 IPO price of the securities at the highest range of introductory, valuing the company at $ 104 billion (82 billion euros).

The action was trading at 42.05 dollars in the first few exchanges. At 3:33 p.m. GMT, three minutes after the first listing, the stock was trading at 40.64 dollars.

Building on the success of the operation, the company had increased by 25% the number of securities being sold to raise it to 421 million.

Friday, some 82 million shares changed hands during the first 30 seconds of official exchanges.

The group's founder and CEO, Mark Zuckerberg, 27, rang the bell to mark the symbolic start of trading on the Nasdaq, since the California headquarters of Facebook.

Become in eight years a major U.S. fortunes, Mark Zuckerberg retains control of the company after the introduction.

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Decline in unemployment in the first quarter in the UK

The number of unemployed people in the UK fell in the first three months of the year at their own pace strongest in nearly a year, according to figures released Wednesday by the Office for National Statistics.

The UK economy fell into recession at the beginning of the year, fueling fears that the private sector employees join the ranks of job seekers when State removes some 700,000 civil service posts as part of its austerity measures.

But following the methodology of the International Labour Organization (ILO), the number of unemployed fell by 45,000 in the first quarter to $ 2.625 million.

The unemployment rate actually fell to 8.2%, while the consensus gave unchanged at 8.3%. 

The number of unemployed youth, a very sensitive politically, also declined to 1.02 million, bringing the unemployment rate for those aged 16-24 to 21.9%.

British companies have also increased their workforce for the first time in a year, according to a survey by the Chartered Institute of Personnel and Development (ICPD). The CIPD warns that the changing economic landscape could make it difficult in the short-term improvement on the labor market.

ArcelorMittal confident after a first quarter better than expected

ArcelorMittal, the world's biggest steelmaker, said Thursday anticipate earnings up in the second quarter after posting better than expected results for the three months of the Year e.

The Luxembourg-based group says that demand has increased in North America in the automotive, construction and appliance.

"Europe remains our main challenge and, in the first quarter, we announced the extended shutdown of several factories in the line of our strategy is to re ; lay on demand from our site competitive, "said Group Chief Executive Lakshmi Mittal said in a statement. 

"Despite the impact of seasonal factors in the first quarter, our mining remains a key growth area and we have set ourselves the objective of further increasing production in 2012."

ArcelorMittal said its steel shipments expected to remain at a similar level to the first quarter but that all segments are expected to improve their profitability. It does not say whether these gains will come from rising prices, costs down, or both.

The group reaffirmed its target of a gross operating profit (EBITDA) rose in the first six months of the year compared to the second half of 2011, when he was 4 , 1 billion dollars (3.17 billion euros).

In the first quarter, EBITDA totaled $ 1.97 billion, well above the Reuters consensus among 11 banks and brokers, who gave it to 1.71 billion. This result was up by 15% over the previous quarter and 24% annual rate.

The net profit amounted to 11 million, instead of the 78 million expected.

ArcelorMittal has also reported that it had signed an agreement to sell its 23.48% in Enovos International SA, for the benefit of a fund managed by AXA Private Equity Group, for a purchase price of EUR 330 million.

Household consumption fell by 2.9% in March

French consumer spending on goods fell 2.9% in March, erasing the equivalent rebound registered the previous month (3.0% in the first estimate) , according to data released Friday by INSEE.

Throughout the first quarter, growth in household spending on consumer goods rose 0.2% after rising 0.3% in the fourth quarter of 2011. Over one year, from March 2011 to March 2012, however, they contract by 2.0%.

The decline in consumption of goods recorded in March was due to falling energy costs (-11.3% compared to February) and to a lesser extent to decline in food expenditures (-2.3%).

The 17 economists polled by Reuters on average expected a 1.9% decline in consumer spending on goods in March.

Recovery within 3 months of buyback of shares to the ECB

The European Central Bank (ECB) will resume its share buyback program of sovereign debt of countries in the euro area in the course of the next three months because of high yields on securities of different countries and relapse into recession in the block, show the results of a Reuters poll of economists from.

Three quarters of survey participants believe the central bank will resume its work on sovereign debt to lower yields and a large majority of them expect it to intervene in the three coming months. 

"The renewed tensions on the bond markets can provide an alarm loud enough to wake the share buyback program," said Philip Shaw, chief economist at Investec, in reference to the purchase program of sovereign debt in the euro area the ECB has shelved for six weeks.

"There is nothing imminent, but we feel that this should not be too far off," continued Philip Shaw.

The ECB had reactivated its share buyback program in August after four months of interruption while the sovereign debt of Italy and Spain were attacked. 

The lull caused by the announcement and the implementation of two unlimited refinancing operations to three years in December and February, which resulted in the injection of more of 1,000 billion euros liquiditésa led to a muting of the program.

The representatives of the ECB, and its chairman Mario Draghi himself Wednesday, had clearly said that the ball was now in the court of governments regarding new measures to support the activity.

Yields on sovereign debt in Spain ten years, however, have recently crossed the threshold of 6.0%, considered difficult to sustain over time. 

The ECB has already acquired the equivalent of 200 billion sovereign debt while sterilizing its interventions by a withdrawal of an equivalent amount of liquidity to the banking system avoid monetization of public debt that its statutes forbid it.

The first results of the survey from Markit purchasing managers (PMI) for the euro area in April released Monday showed an increased contraction of activity in the private sector.

According to a previous Reuters poll of economists from the euro area is expected to moderate recession until the third quarter of this year. 

The ECB lowered its main rate at a record low of 1.0% in December, should not change it in one way or another before 2014, according to the forecast EM diane of economists surveyed this week.

Only one economist told to expect the ECB to lower its main rate by a quarter point at the next meeting of its Board of Governors, May 3

The former trader Jerome Kerviel SocGen complaint against

The former trader Jerome Kerviel has filed a complaint against Societe Generale judgment for fraud, said Friday his lawyer, David Koubbi, in an interview on Europe 1.

"We filed a complaint against Societe Generale today the judgment for fraud," he advised me Koubbi.

"What interests us is that our complaint is welcomed," he added.

Kerviel was sentenced in 2010 to five years in prison and three farms to repay 4.9 billion euros, an amount corresponding to the loss suffered by the SocGen trading in January in 2008.

His appeal to be held from 4 to 28 June 2012.

Italy has revised downwards its growth forecast

The government of Mario Monti expects a decline of 1.2% of GDP for 2012, against an anticipated 0.4% decline in December. And return to a balanced budget is delayed. "Reforms should increase growth by 2.4% between 2012 and 2020," according to the government of Mario Monti.

The Italian government on Wednesday revised downwards its forecast for gross domestic product (GDP) for 2012, providing for a contraction of 1.2% against a 0.4% decline in the last official forecast from December. He at the same time delayed its planned return to balanced budgets, expecting a deficit of 0.5% in 2013 (instead of 0.1% predicted), in a statement issued at the end of a cabinet.

This forecast remains "in compliance" with the Covenant which provides that the European budget deficit must remain below 0.5%, says the text. One aspect stressed by the Head of Government Mario Monti at a press conference: "The Treaty (European Pact on budget) requires each Member State there is in each country a deficit not exceeding the 0.5% of GDP, "he said. "The government estimates that GDP will contract by 1.2% in 2012 to turn positive again in 2013 (0.5%) and speed over the two successive years (1 and 1.2% respectively)," the statement said . "This will allow the public debt (…) to fall to 120.3% (of GDP) in 2012 to 110.8% in 2015," said the government.

"The debt is on a path of gradual but sustainable," noted Mario Monti in its reasoning accompanying the new government's economic forecasts. "Despite progress, there is still a long way to go, in a more favorable but still characterized by elements of uncertainty," he adds.

For the government of Mario Monti, "the action of financial balance has been accompanied by the adoption of various reform measures aimed at removing the main obstacles that have hindered the growth potential of Italy. Based on estimates government, reforms should increase growth by 2.4% between 2012 and 2020, "said he. "We must revive growth in the context of a model of fiscal stability and this is the way to build a modern economy and social market," said Mr Monti, saying that "growth is the most large préoccuptation "Italians.

"We fight every day to avoid the dramatic fate of Greece," he said. "This crisis requires a very high cost to families, youth, workers, businesses and sometimes these experiences are completed in despair," he said in a grave tone evoking directly to contractors suicides occurred recently. "There were 1,725 ​​suicides, it is the dramatic effects of the crisis," he said.

The President of the Council also strongly condemned tax evasion, promising a fight against this scourge in Italy. "The commitment to fight against tax evasion responds to reasons of justice. Evasion is between companies unfair competition and a way in which citizens dishonest cause harm to other citizens, causing pressure (fiscal note) higher, "he said.

Map of Bordeaux vineyards passed under the Chinese flag

Château de Viaud in Patache, through the Grand Mouëys, discover new properties fell into the hands of the Middle Kingdom. Since 2011, redemptions accelerated.

The wave of takeovers of Chinese vineyards in the Bordeaux region has increased since 2011. At least a dozen properties were acquired by the Chinese last year. And since the beginning of the year, four transactions were concluded. Among them, the sale of Grand Mouëys in mid-February to Jinshan Zhang, the founder of a major Chinese producer of alcohol goji berries.

And the trend could increase its intensity. This is the month that predicted Jean-Luc Coupet, creator of Wine Bankers, a reference to the wine market transactions. For him, "in this wave of buying, the biggest deals yet to come." The Chinese market is already the leading destination for exports of Bordeaux wines, with about 436,000 hectoliters shipped representing 334 million euros. Besides the 100,000 hectoliters sold in Hong Kong, for 348 million euros. China would it be the future of Bordeaux?

Here are our full investigation "Harvest in the Bordelais Chinese"

The recent Chinese acquisitions in the Bordeaux Appellation Names Purchase Date Buyer Village 1. High Brisson St. Emilion Peter Kwok, Taiwan 1997 Vignonet 2. Latour-Laguens Entre-deux-mers Haiyan Cheng (Longhai Group) 2008 St-Martin-du-Puy 3. Richelieu Fronsac A & A, Hong Kong 2009 Fronsac 4. Old Cy Zhejiang Brondeau Libourne Saint-Earth 2009 5. Chenu Lafitte Cotes de Bourg village Group Haichang 2010-sur-Gironde 6. Viaud Lalande de Pomerol-Cofco 2011 Lalande de Pomerol 7. Laulan Ducos Medoc Richard Shen (Tesiro) 2011 Jau-Dignac-and-Loirac 8. Lagarosse Cotes de Bordeaux Carlico, Hong Kong 2011 Tabanac 9. La Salle Cotes de Blaye 2011 Zhongai Saint-Genes-de-Blaye 10. Monlot Saint-Emilion Zhao Wei and Huang You Long 2011 11 St. Hippolyte. Lafon Listrac Marvelake Listrac-Médoc 2011 Wine 12. Barateau High Medoc Wine Marvelake 2011 Saint-Laurent-Médoc 13. The Bourguette Sainte-Foy-Bordeaux Beverly Koo, Hong Kong nc Saint-Philippe-du-Seignal 14. Lezongars Between the two world seas Dashang 2011 Villenave de Rions 15. La Roche Pressac Cotes de Castillon Skyvast Properties, Hong Kong 2011 Saint Magne de Castillon 16. The Patache Pomerol Peter Kwok, Taiwan 17 2011 Saint-Emilion. Grand Branet Entre-deux-mers 2011 Capian Cheng Qu 18. Branda Puisseguin-Cheng Qu Saint-Emilion 2011 Puisseguin 19. Laurette St. Croix-Mount Cheng Qu 2011 Sainte-Croix-du-Mont 20. Thébot Sainte-Foy-Bordeaux Cheng Qu 2011 Saint-André-and-Appelles 21. Tour-Saint-Christophe Saint-Emilion Peter Kwok, Taiwan 2011 St. Christophe-des-Bardes 22. Bertranon St. Croix-du-Mont Meng Gao Loupiac 2012 23. Between Cugat-deux-mers 2012 n.c. Blasimon 24. Grand Mouëys Entre-deux-mers Jinshan Zhang (Ningxiahong) 2012 Capian

European markets open with little direction

European shares opened Thursday with little direction, investors conducting buybacks on the cheap while nervously awaiting an Italian sovereign debt issue and the numbers of industrial production in the euro area.

In Paris, around 9:35, the CAC 40 gained 0.21% (6.93 points) to 3,244.62 points. In Frankfurt, the Dax is 0.5% but in London, the FTSE was down 0.13%. The pan-European index Stoxx 50 is almost unchanged (0.09%).

Investors are worried that financial troubles are spreading from Spain to Italy, and little progress displayed by Rome in the implementation of structural reforms has revived the rising cost of financing its debt. Italian bond yields and ten years and is back above 5.5%.

While ramping up the "earnings season" in Japan, Europe and the United States, the day is also marked by the publication of the monthly bulletin of the European Central Bank (8:00 GMT ).

Operators continue to proceed cautiously buying cheap car values, banking and mining, recently battered. The index of bank stocks in the euro area, which collapsed 21% in three weeks on renewed concerns about debt in Europe, thus increasing by 0.6%.

That hides the yoyo market

Financial markets seem to have entered a new phase of instability. This correction is benign or she announces she a new crisis. The responses of Grandrille Xavier, President of Amplegest. Paris Bourse

For three months, financial markets and the States have experienced a real honeymoon. German and Japanese shares rose nearly 20%, spreads have narrowed significantly, from 200 basis points for Italy and Portugal, 170 points for Ireland, 30 points for France. But for two days, it is the fever which prevails. In Spain and Italy, rates on government bonds are strained. And scholarships to play yoyo throughout the Old continent. Analysis of Gandrille Xavier, President of Amplegest

Correction in financial markets is normal?

Only in part. Since late 2011, the CAC 40 was much increased. About 16% until mid March. This increase was driven by two factors. The first is the disappearance of systemic risk through intervention by the ECB provides liquidity to banks. The second is the improved outlook for growth. Last summer, it seemed that Europe would not live through the winter. And then the activity – even if it remains depressed – has grown faster than expected. After a period of rising markets, it is normal to see a correction. We lost 10% of the CAC. It's not a disaster. The problem is knowing what will make markets in the coming months. Will you stay in the same waters or on the contrary, enter a negative cycle?

Exactly. What is your scenario for the future?

The answer is not obvious. But unlike the consensus which considers the correction of the past two days as normal, I'm pretty uncomfortable. The euro area remains a system that does not work. And injections of liquidity by the ECB do not change. We are in a situation where the debt repayment hampers growth. But until there is no improvement economic contagion – that is to say, a generalized rise in long rates – is possible.

Can we implement growth policies to loosen the grip of markets?

It's complicated. Future investments are expensive. We can implement liberalization policies as in the Scandinavian countries. But this type of policy takes time to produce its effect on the economy, in contrast to fiscal austerity. Europe is thus reduced to buying time to let the markets do not become impatient. This is what happened, for example, with its new firewall. But I remain pessimistic for the future. I'm afraid the consensus is do a little too many illusions about the ability of Europe to come out of the rut by itself. It will probably still other attacks markets, other crises to advance.